By Olabisi Olaleye

A new center designed for technologists, financial institutions and developers to    co-create the next generation of payment and commerce applications has been commissioned in Dubai by Visa , a global payments technology company.

In a statement by the company, it will serve the Central and Eastern Europe, Middle East and Africa (CEMEA) regions and is part of a network of new innovation centers that Visa is opening around the world over the course of 2016 and 2017.

“The new 4,000 square foot facility in the heart of Dubai Internet City supports Visa’s commitment to drive cashless economies throughout the region. The Dubai facility is designed to replicate the success of Visa’s flagship innovation center, One Market in San Francisco and the Asia Pacific innovation center that recently opened in Singapore.

“The UAE has been among the leaders in the region in adopting and promoting the acceptance of innovative technologies. Fostering a knowledge economy is one of the four pillars outlined in the UAE Vision 2021, highlighting the country’s commitment to technological innovation,” said Kamran Siddiqi, group executive, CEMEA, Visa.

He maintained that the the country’s strategic location, which in itself is a diverse and exciting part of the world, “Makes it an ideal place for us to build this facility where Visa will work alongside clients and partners to imagine and build creative, cutting-edge digital commerce and payment experiences.”

Siddiqi noted that the payments industry shifts from plastic to digital and new entrants bring innovative payment options to market, Visa’s mission is to ensure that every Internet-connected device, appliance and wearable, can become a secure place for commerce.

“The innovation center in Dubai, along with Visa’s other global network of innovation facilities, is a key part of the company’s focus on fostering innovation and promoting “open commerce” by enabling clients to engagae, experience and collaborate”, he said